Brexit success relies on new trade deal with U.S., some economists say

LONDON (NBC) – It’s been more than three years in the making. Now, Britain’s becoming the first-ever country to leave the European Union. So what does Brexit mean for the United States?

The U.K. will still follow the E.U.’s rules for 11 months.

With the U.K. bidding adieu to the E.U., whats next? How will this change the relationship with the U.S.? It could very well depend on a new trade deal.

Most trade agreements take between three and five years to negotiate. Moving to 11 months is a condensed schedule. Most trade experts don’t believe it would be possible.

President Trump has been optimistic something will get done with the United Kingdom, but some are skeptical.

European Parliament Vice President Mairead McGuinness said, “I think that the next phase, if you thought that was dramatic, I think it might be even more dramatic and more traumatic because there’s a lot of hard negotiation to be done.”

Since the Brexit vote, the value of the Pound decreased significantly against both the Euro and the U.S. Dollar.

Tourism experts say it’s unlikely to affect U.S. travelers going to the U.K. In fact, it could boost travel, since the price would be cheaper for most travelers.